Study sets, textbooks, questions
Upgrade to remove ads
Money & Banking
Terms in this set (18)
Federal Reserve System
Central Bank of the United States which is charged with managing the supply of currency, making payments on behalf of the government, and regulation and supervision of all other banks in the United States.
Fractional Reserve Banking
Banking system that requires banks to only keep a fraction of their assets (money people deposit there) on hand. The remaining money can be loaned to others for other uses.
There are 12...
Federal Reserve District Banks in the United States
There is 1..
Federal Reserve Bank in the United States
Money that has value because the government has ordered that it is an acceptable means to pay debts
Money that has intrinsic value - the actual object being traded has value all by itself; example: Food
Money that represents the value of something safely stored; For instance, the "gold standard"
Anything that is generally accepted as final payment for goods and services; serves as a medium of exchange, a store of value and a standard of value. Characteristics of money are portability, stability in value, uniformity, durability and acceptance.
Coins and paper bills used as money
M0, M1, M2, M3
Classifications of types of money; based on how readily available the money is for use.
The US uses ____________ money
Amount banks must keep in reserve from each deposi
Board of Governors
A seven-member committee that controls the Federal Reserve System. Also called the Federal Reserve Board, or the Fed.
The Federal Open Market Committee is the most powerful committee of the FED, because it makes the decisions that affect the economy as a whole by manipulating the money supply.
Rate (%) charged by banks for borrowing money or earned by individuals who deposit money in bank accounts
When you put money IN to the bank for savings or later use
Central Bank of the United States
The Federal Reserve Bank
3 Functions of "Money"
Means of exchange; Standard of Value; Store of Value
Sets found in the same folder
Period 1 HUSH
The Bill of Rights
What is Economics?
Sets with similar terms
Economics Chapter 10 - Money and Banking
Econ Topic 6 - Money, Banking, and Finance
Chapter 10 - Economics
Other sets by this creator
UNC Anatomy: Histology quiz
AP US Government Final Exam
AP Government--Court Cases
World Religions Final Exam Spring 2017
Other Quizlet sets
Econ Unit 4 Study Guide
Personal & Consumer Finance - Chapter 8 Vocabulary
Financial Services 02/25/2014
Chapter 14 Economic Test